The Federal and various State governments offer a range of grant funding and other incentives to assist businesses investing in major projects, capital infrastructure, export endeavours, research and development, and industry sector growth initiatives.
In most cases, grant funding isn’t required to be paid back, offering an exceptional opportunity for businesses to invest into growth and scale.
Avant Group is a specialist government grants consulting firm that works with many of the Nupac clients in assisting them to identify, apply for and maintain ongoing compliance and reporting of government grants and incentives. The team has extensive manufacturing experience and comprises of personnel with mechanical, aerospace, chemical engineering and science backgrounds.
We reached out to the team there to ask what programs are available and what may be coming up – here is a snapshot of programs that may be suitable for your business.
Modern Manufacturing Initiative – Federal
This grant provides funding towards capital investment projects for businesses operating within defined priority sectors – food and beverage being one. Grants between $1 million to $20 million are anticipated in the next round – opening towards the latter part of this calendar year and will fund up to 33% of eligible project expenditure (grant percentage).
Business Competitiveness Program – Victoria
This grant provides funding towards capital investment projects for manufacturing businesses with operations in Victoria. Grants between $50K and $500K are anticipated in the next round – next round is estimated to open in Jan 22 and will fund up to 33% of eligible project expenditure (grant percentage).
Export Market Development Grant – Federal
The EMDG provides a reimbursement style cash grant to offset eligible promotional export marketing expenditure incurred. Businesses must now apply up-front and receive a grant agreement prior
to the commencement of incurring eligible expenditure. The window for upfront applciaitons closes 30 November 2021.To meet grants entry, businesses must be export-ready and have a turnover of less that $20million. In total, a business can apply for up to $770,000 over 8 financial years.
R&D Tax Incentive – Federal
The Research & Development (R&D) Tax Incentive program offers up to a 43.5% refundable tax rebate
for businesses undertaking research and development activities within Australia.
It is designed for eligible businesses conducting genuine research and development activities that will create new knowledge, with a commercial outcome. Businesses can receive funding either as a cash payment or for companies with turnover above $20M as a carry forward tax offset.
In conjunction with Avant Group, Nupac is offering a complimentary grants assessment to run through your manufacturing project or other business needs. The team has expertise to assist in:
- Writing the application content
- Preparation of financial analysis and budgets
- Preparation of complex technical project plans and any other requirements for grant submission
To arrange your complimentary review, please email Nupac at email@example.com